BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0018%/8h= −2.0% APRnext payment −$0.02 per $10,000 · paid last 24h −0.003%

Price spread now: Lighter against Polymarket Perps−0.041%7-day average −0.106% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$150.149% of the position

Long on Polymarket Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.351%−$35 on $10k

Price spread, last 7 days−0.055%−$5 · spread now −0.041%, 7d avg −0.106%

Together, before fees−0.406%+ Points / potential airdropLighter: Season 3 · farm board−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.064% dearer against Polymarket Perps than usual: you sell high and buy low (spread −0.041% now, against its 7-day average of −0.106%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 12 days. At the pace of the last 7 days (−0.351% in total) that is about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BRENTOIL-USD	96.840	0.0050	pay 0.0006% / 1h	36m 44s	$1.5M	$486K	20x
Short	Lighter BRENTOIL	96.800	0.0032	get 0.0004% / 1h	36m 44s	$3.3M	$4.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Polymarket Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee LighterbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$3.78
Price spread: −0.041% → −0.106%: $6.44
Slippage, 4 orders: −$6.88
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$12.22
Costs to cover: 0.149%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; Lighter: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Polymarket Perps live order book, 2 min ago	2.22 bp	6.2 bp −$6	7.1 bp −$71	15.7 bp −$1,571	doesn't fit
Sell Lighter live order book, 6 min ago	0.52 bp	0.5 bp −$1	1.4 bp −$14	8.9 bp −$893	doesn't fit

BZ on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BRENT/USDC PERP	−0.0220%	1h	96.070	−0.795%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.196%	$234K	$421K	15x	as long as short
BloFin BZ-USDT	−0.0052%	4h	96.760	−0.083%	$1.5M	$90K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.805	−0.036%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.790	−0.052%	$146.2M	$387.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.780	−0.062%	$10.3M	$14.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.790	−0.052%	$15.9M	$22.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.782	−0.060%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.750	−0.093%	$9.2M	$12.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.790	−0.052%	$27.6M	$16.5M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	96.790	−0.052%	$9.3M	$7.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.738	−0.105%	$24K	$341K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.810	−0.031%	$4K	$2.6M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.750	−0.093%	$277K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.790	−0.052%	$1.2M	$85K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.303	+0.478%	—	—	—	as long as short
edgeX BZUSDC	+0.0013%	4h	96.740	−0.104%	$222K	$232K	20x	as long as short
Lighter BRENTOILshort	+0.0032%	1h	96.800	−0.041%	$3.3M	$4.4M	20x
Extended XBR-USD	+0.0032%	1h	96.780	−0.061%	$672K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.81	+4.100%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0048%	8h	96.791	−0.051%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.788	−0.054%	$151.6M	$129.2M	20x	as long as short
Polymarket Perps BRENTOIL-USDlong	+0.0050%	1h	96.840	long leg	$1.5M	$486K	20x
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.770	−0.072%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0056%	1h	96.810	−0.031%	$33K	—	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	+0.0060%	1h	96.830	−0.010%	$103K	$271K	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.850	+0.010%	$3.8M	$892K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.740	−0.103%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0206% / S +0.0101%	1h	96.785	−0.057%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.812	−0.029%	$83K	$218K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0269%	1h	96.832	−0.008%	$7K	$45K	5x	as long as short